Many years ago, when I was younger, I loved reading and watching science fiction. It showed me a world of amazing technology. I imagined computers that could solve problems in an instant, chatbots in our cars or on our wrists, sunglasses that could take pictures, and touchscreen gestures that seemed magical. Fast forward to now, and a lot of that imagination has become real. But technology is coming at us so fast these days, it feels almost too strange to believe, even though it’s true!
Category: News
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Elon Musk’s False Claims Trigger Congressional Chaos
This week, Tesla and SpaceX owner Elon Musk, a billionaire and friend of soon-to-be President Donald Trump, made waves by trying to stop a bill in Congress that could prevent a government shutdown. He posted over 100 messages on X (formerly Twitter) and shared many false claims about the bill. Political expert John Mark Hansen from the University of Chicago commented that Musk is now a big player in politics, possibly overshadowing Trump.
Musk opposed a large spending bill that was over 1,500 pages long. He falsely claimed that it would give Congress members a 40% salary increase. In reality, the most anyone could get would be a 3.8% raise, which means around $6,600 more. Most Congress members earn $174,000 a year, while the House Speaker makes $223,500.
Musk also shared a false claim that the bill included $3 billion to build a new stadium for the Washington Commanders NFL team. The bill actually just allowed the land where RFK Stadium is located to be controlled by Washington, D.C. taxpayers. Mayor Muriel Bowser of D.C. responded, saying, “It’s all wrong—there are no federal dollars for a new stadium.”
In another misleading post, Musk insisted that the bill funded bioweapon labs. What the bill actually did was support labs for medical research on dangerous diseases, not labs to create bioweapons.
Some Congress members were not happy with Musk sharing wrong information. Rep. Dan Crenshaw of Texas told Musk he should check his facts before spreading claims.
Lastly, the House of Representatives voted on a new bill backed by Trump, but it was rejected 174-235, with many Republicans joining Democrats against it. Finally, Congress passed another spending deal, and President Joe Biden was set to sign it into law soon. During his first term, Trump caused the longest government shutdown ever and disrupted a COVID-19 relief plan.
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Emily Compagno: Did Jill Biden Vote for Trump?
Fox News host Emily Compagno has made a surprising guess that First Lady Jill Biden might have voted for Donald Trump in the recent election. Compagno thinks Jill has been unhappy with Vice President Kamala Harris, and she believes this might mean Jill didn’t support the Democratic ticket.
During a discussion on the show Outnumbered, Compagno talked about tensions between Jill Biden and Harris. She mentioned that rumors have been spreading about Jill feeling bad about how her husband was treated in the past.
The panel also discussed a report from the Daily Mail that suggested Jill Biden has been planning to “take revenge” on people they feel have wronged them. It claimed Jill has been pushing her husband to take bold actions, like giving a controversial pardon to their son, Hunter Biden.
Compagno even compared Jill Biden to Lady Macbeth from Shakespeare’s play. She said it looked like Joe Biden wouldn’t want to run for a second term without Jill’s strong support.
To back up her idea, Compagno pointed out that Jill has been wearing a lot of red clothing lately. She suggested this might mean Jill is happy that Kamala Harris didn’t win.
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Indian Hospitality Sector Thriving: Hotels Set for Strong Growth!
The Indian hospitality industry is looking great for the third quarter of FY25. After facing some challenges earlier in the year, hotels are bouncing back strong! The busy wedding season and exciting MICE events (Meetings, Incentives, Conferences, and Exhibitions) have really helped.
Top hotel companies are expected to see their Revenue Per Available Room (RevPAR) grow by 10-12% compared to last year. This growth mainly comes from a rise in room prices, which are expected to increase by 8-10%. Recent checks in November show that many weddings are happening, which has led to a strong performance in hotels. Luxury hotels are doing even better, with RevPAR growth at 15-17%.
December is also expected to be busy because of corporate events, cultural festivals, and holiday tourism, but we should watch for a drop in demand as the year ends.
Cities such as Mumbai and Delhi NCR are seeing the most growth, with RevPAR increasing in low double digits due to active convention centers. Meanwhile, Bengaluru and Hyderabad are recovering well, too, driven by business from the IT sector and strong MICE events.
Overall, there’s good news for the hospitality sector, with rising demand in flying and a steady increase in foreign tourists. Hotels are adding new locations and enhancing their services, ready to meet the growing demand.
The future looks promising! Strong demand, corporate price increases, and improving operational efficiency are likely to boost room prices and occupancy rates. With a growing economy, better connectivity, and more people looking for experiences, this industry is set to thrive!
Indian Hotels: Buy! Target at Rs 950, currently at Rs 880 (8% potential upside). They plan to have over 700 hotels by 2030, doubling their revenue to around Rs 150 billion. They aim for an impressive return on capital by FY30.
Lemon Tree: Buy! Target Rs 190, currently at Rs 157 (21% potential upside). They are set for continued growth due to strong wedding demand and stable business conditions, with a 33% projected PAT growth over the next few years.
(The author is Head – Research, Wealth Management, Niftystat. Note: Recommendations and views are solely the author’s and do not reflect the views of the the llv news the llv.com
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Singh’s Move: Can Trudeau Survive the Coming Vote of No Confidence?
The future of Canadian Prime Minister Justin Trudeau is looking shaky. Jagmeet Singh, the leader of the New Democratic Party (NDP) and an important supporter of Trudeau, announced he plans to suggest a vote to remove the minority Liberal government. In a letter he shared on social media, Singh said the Liberals don’t deserve another chance. He believes it’s time for Canadians to vote for a government that will truly work for them.
Singh said he will use a special day in the House of Commons to introduce this vote. Right now, Parliament is on a winter break and will start again on January 27. Singh’s announcement raises many questions about Trudeau’s future, especially since at least 21 Liberal MPs have called for him to resign, according to CBC News.
Just recently, Trudeau faced more troubles after Chrystia Freeland, his deputy prime minister and finance minister, resigned shortly before giving an important economic update. Freeland left due to disagreements with Trudeau about how to deal with issues, like potential tariffs from the new US President, Donald Trump.
Singh’s letter said the Liberals have not kept their promises and that change is needed now. This news comes as Trudeau just announced changes to his cabinet. Even though the NDP ended their cooperation with the Liberals a few months ago, they have still voted to support them when the Conservatives proposed votes to remove the government.
Conservative leader Pierre Poilievre has been calling for an election to happen quickly. He commented that if Singh had voted with his party, Canadians would already be preparing for an election campaign. Poilievre also mentioned he is asking Governor General Mary Simon to bring Parliament back urgently for a non-confidence vote to end Trudeau’s leadership.
Trudeau has not replied publicly to these calls for his resignation and has told party members he will take time over the holidays to think about his next steps.
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Congress Boosts Social Security for Certain Retirees Amid Concerns”
On Saturday, Congress passed a new bill that will give more money to certain retired workers, like former police officers and firefighters. The Senate voted 76-20, and the House had already passed it with 327 votes in favor. Now it’s up to President Joe Biden to sign it into law.
This bill will change rules that have been in place for over 20 years. These rules reduced benefits for people who also get public pensions. Many normal workers rely solely on Social Security and what they can save. In fact, only about 1 in 10 private workers have pension plans.
The new law will help about 2.5 million retirees, which is around 3% of all Social Security recipients. Some of these retirees could see hundreds of dollars more added to their monthly Social Security checks.
However, some experts warn this could hurt the program’s finances. They estimate the cost of the bill will be about $196 billion over the next 10 years. Emerson Sprick, an expert at the Bipartisan Policy Center, expressed concern about the lack of understanding of the long-term problems with Social Security.
The Committee for a Responsible Federal Budget also warned that this change could make financial issues worse. Their president, Maya MacGuineas, stated, “We are racing to our own fiscal demise.”
Senator Ted Cruz spoke against the bill, saying it could harm seniors who depend on Social Security. Supporters of the bill believe that they can address these financial challenges in the future. Senator Michael Bennet, who supports the bill, mentioned that these are complex issues that need to be worked on together.
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Oil Prices Steady Amid Mixed Signals: What’s Driving the Market?
Oil prices are staying the same lately, but there are different signs about what could happen next. Some good news came from strong demand for oil in the U.S. and Europe, meaning more people and businesses need it. This could keep prices up.
But there are also concerns. For example, there are worries that the global economy might slow down. If people spend less money, they might not buy as much oil. This uncertainty causes mixed feelings among investors, making oil prices not change much.
Additionally, there are factors from other countries. The ongoing war in Ukraine is affecting supplies, which can also impact prices. On the other hand, countries like Saudi Arabia and Russia have made deals to control how much oil they sell, which can keep prices stable.
In short, while some signs are positive, others raise questions. This mix keeps oil prices steady right now as everyone waits to see what will happen next
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Foreign Investors Boost Financials and IT While Pulling Back on Oil
In the first half of December, foreign investors were very active, putting a lot of money into three main areas: financial services, IT (information technology), and real estate (like homes and commercial properties). They invested ₹7,424 crore in financial services, ₹6,754 crore in IT companies, and ₹4,689 crore in real estate.
However, not all sectors were popular. These investors sold off ₹5,337 crore worth of oil and gas stocks, ₹1,823 crore in auto stocks (like cars and trucks), and ₹1,655 crore in fast-moving consumer goods (FMCG) shares (like everyday items you buy at the store).
Overall, foreign investors were net buyers, meaning they bought more shares than they sold, totaling ₹22,766 crore in the first two weeks of December. After experiencing some sell-offs in November, investors are now showing more interest in the telecom (like phones and internet) and services sectors, with investments of ₹627 crore and ₹553 crore, respectively, in early December.
Looking at the whole year, the oil and gas sector had the highest amount of money pulled out by foreign investors, totaling ₹50,851 crore in 2024. Financial services also faced significant withdrawals, with almost ₹54,000 crore pulled out.
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U.S. Stocks Rally After Positive Inflation Report: What You Need to Know
U.S. stocks went up on Friday after a tough week, thanks to a good inflation report and some soothing comments from the Federal Reserve (the Fed). The latest report showed that prices went up by 2.4% in November compared to the year before, which is a bit better than what experts expected. People are still spending money, which is a sign that the economy is doing okay. After this news, investors started to think the Fed might cut interest rates sooner than they thought, likely starting in March 2025.
Earlier in the week, the Fed had announced its third interest rate cut of the year but said there would only be two more cuts next year instead of four. This made investors nervous at first, causing stocks to drop. On Friday, however, things turned around: with every major stock index going up, the Dow Jones rose by nearly 500 points, marking its best day since November 6.
Despite the Friday bounce, all three major U.S. indexes dropped for the week. The tech-heavy Nasdaq was particularly affected, ending a four-week streak of gains. All groups of stocks went up in Friday’s rally, with real estate leading the way. Small companies, measured by the Russell 2000 index, also saw their stocks rise.
Investors were also keeping an eye on the U.S. Congress, which was rushing to prevent a partial government shutdown. Overall, many more stocks went up than down on the New York Stock Exchange and the Nasdaq. Friday saw a lot of trading activity, partly because of the end of some stock contracts, known as triple witching, where 21.58 billion shares changed hands.
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Cold Wave Hits North India: Stay Warm and Safe!”
The India Meteorological Department (IMD) has warned that a cold wave will affect parts of Himachal Pradesh and Rajasthan until December 24. From December 20 to 24, cold conditions can be especially strong in Himachal Pradesh. After that, on December 25 and 26, some colder areas will still feel a chill.
The IMD also reported that cold wave conditions are expected in Punjab and Rajasthan on December 21 and 22. People in these areas should be ready for very cold weather!
Fog has been a big problem too, with thick fog likely in some parts of Himachal Pradesh and East Rajasthan until December 22. Recent days have seen biting cold in Punjab and Haryana. Faridkot, for example, reached a chilly 2 degrees Celsius on December 19.
In Pathankot, Punjab, the minimum temperature dropped to 4 degrees Celsius. Meanwhile, the towns of Bathinda and Gurdaspur both felt the cold with temperatures around 4.6 and 4 degrees Celsius, respectively.
Haryana is not warming up either. The coldest place there was Sirsa, which saw a low of 4.2 degrees Celsius. Hisar was chilly at 5.6 degrees, and Karnal felt it too at 6.8 degrees. Bhiwani reported a low of 6.9 degrees Celsius.
In Kashmir, the weather was even colder. Srinagar recorded its coldest night this season, dropping to -6.2 degrees Celsius, just a bit lower than -6 degrees the night before. The weather team has said that dry weather will continue until December 26 but light snowfall is possible in higher areas overnight on December 21-22.